Isle of Man based Life insurer Friends Provident says that its total life and pension new business over the full year to December 2006 increased by 31% to ?7.07bn. Fourth quarter new sales alone rose 18% to ?2.45bn, ahead of expectations.
On the Island they are based at Royal Court in Castletown.
Total UK new business over 2006 rose 30% to ?4.16bn, with a particularly strong performance in group pensions, up 46% to ?2.3bn, providing major support. The UK protection side, meanwhile, put in a much more modest performance, with new business up 8% to ?432m, as the business continued to battle against stiff competition.
Internationally, new business rose 32% to ?2.9bn with Lombard, its Luxembourg-based life assurance arm, experiencing a 40% jump in new sales to ?21bn. Friends Provident International business, meanwhile, posted a 16% rise in new business to ?823m.
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